Joseph Stiglitz - Will the Economic Stimulus Package Work?

Complete video at: http://fora.tv/2008/02/05/Joseph_Stiglitz_Economics_of_Information

Nobel Prize-winning economist Joseph Stiglitz argues that increasing unemployment compensation should be a necessary first step for any national economic stimulus plan.

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Nobel Prize-winning economist Joseph Stiglitz ("Globalization and Its Discontents") talks about his new concept of economics, "The Economics of Information," and his latest book, "Making Globalization Work" - Asia Society

Joseph Stiglitz was chief economist at the World Bank until January 2000. Before that he was the chairman of President Clinton's Council of Economic Advisers. He was awarded the Nobel Prize in economics in 2001. He is currently a finance and economics professor at Columbia University. He is the author of Globalization and Its Discontents and The Roaring Nineties.

Category:

News & Politics

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• economy
• economics
• congress
• bush
• unemployed
• welfare
• benefits
• rebate
• checks
• recession
• business
• downturn
• foratv
• fora.tv
• fora
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[TheProgressistViewer]

@sysopkc What's ur point? (pardon my ignorance) Nafta good or bad?

[sysopkc]

@TheProgressistViewer I think the problem here is a lack of understanding of ISI and the wave of import substitutions that took hold of S America in the 80's. People are idiots.

[sysopkc]

@TheProgressistViewer I think you should examine how unemployment calculations are computed, and how the calculation ratios have been changed over the last decade. If any competent investor acted based on Govt. economic data they would all be bankrupt. This is common knowledge in the investment world. Those numbers are lies.

[PissedFechtmeister]

Over two years since this video was posted, and Obama has been extending unemployment benefits. The economy is still in the tank despite this alleged "strong stimulus". Anyone who thinks that government spending stimulates the economy hasn't been paying attention for the past hundred years.

[rickbar123]

Have you been under a rock????

We have had bubbles, the economy was being held up by fake markets.

Dot com bubble

Housing bubble

[TheProgressistViewer]

No it is not bullshit. I can say so because unemployement was lower 10 years after nafta than is was before nafta. We spent decades out sourcing jobs over sees and umemployment stayed under 10%

[rickbar123]

Free Trade for America is all bullshit.

In 2006 we sold 55 billion to china, most of that was freaking coal from Pa. They sold us 256 billion in goods. How can you say- trade and unemployment dont connect???????????????????????­??????????????????????????????­??????????????????????????????

Every industry that ever paid a good wage is now in China paying nothing.

[TheProgressistViewer]

I know the worker has to work what on earth are you talking about? What I'm saying is that there is not aq single connection between trade and employement. Just look at the figures! Trade did not make unemployement go up, trade barriers will not make it go down. Its that simple. I'm not a neocon I'm a libertarian. Neo cons are not generally in favor of complete free trade. The people of South America rejecting what game? Wat are you talking about?

[rickbar123]

Bla Bla Bla Yada Yada Yada.

Listen- The worker in America IS THE CONSUMER. If he is out of work, He does not spend. How much longer do you think your little bullshit Neo/Con game is going to be in play??? The people of South America are rejecting your game, others around the world see how the Neo/ Cons do nothing but destroy. Change yor name.

[TheProgressistViewer]

There are limits, those are set by the demand, the market through prices. But you somehow know better than millions of peoples making hundreads of decisions everyday what is good for the country? The amount of goods that comes in is excatly the right one. How would you set the limit anyway? Besides, where do you get the moral right to decide if humans are gonna be alowed to trade of not?